Exports of China’s Mechanical and Electrical Products Decreased by 10.9 Percent in November
General Administration of Customs of the People’s Republic of China (GACC) announced that in the past eleven months of 2022, China’s imports and exports of mechanical and electrical products totaled US$2840.13billion, 0.99 percent higher than a year prior. The exports grew by 5.62 percent to US$1879.51 billion, accounting for 57.1 percent of the merchandise exports. Imports dropped by 6.98 percent to US$960.62 billion, accounting for 38.6 percent of the merchandise imports. The trade balance of mechanical and electrical products expanded US$172.15 billion to US$918.89 billion in surplus.
In November, exports of mechanical and electrical products dropped by 10.94 percent year-on-year to US$172.43 billion, and the 29 consecutive months of positive growth put to an end. The imports of mechanical and electrical products reached US$82.35 billion, which decreased by 23.26 percent year-on-year, the negative growth for the ninth consecutive month.
In November, the exports of automatic data processing machines and parts thereof, integrated circuits, mobile phones, household appliances and lamps and lighting fittings and parts thereof decreased year-on-year.
Weak global demand led to the continued downturn in the export of electronic information products. In November, the exports of automatic data processing machines and parts thereof fell by 28.3 percent to US$18.0 billion, which expanded 11.9ppt compared to the last month, and the negative growth had lasted for four consecutive months; The exports of integrated circuits fell by 29 percent to US$11.06 billion, the negative growth for five consecutive months; The export volume of mobile phones in November decreased by 24.9 percent, the sixth consecutive month for negative growth. Due to the poor supply and sluggish global demand caused by the epidemic in some regions, the exports of mobile phones in that month fell by 33.3 percent to US$11.02 billion, the lowest value in November throughout the decade.
The boom in motor vehicles exports continued. The shipments and export value grew by 71.1 percent and 113.3 percent respectively, maintaining the positive growth for 26 consecutive months. By November, the shipment of motor vehicles increased by 54.9 percent to 2.984 million units, and the exports grew by 73.1 percent to US$54.3 billion accordingly.
In terms of import, in November, the imports of motor vehicles, automatic data processing machines and parts thereof, integrated circuits were of a double-digit decline. The import volume of integrated circuits fell by 25.3 percent to 40.5billion units, the twelfth consecutive month of decline, and the import value fell by 27.2 percent to US$30.1 billion, the seventh consecutive month of decline.
Data Source: www.customs.gov.cn
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